New Delhi: On Monday,following the daily revision in retail fuel rates, petrol prices remained unchanged while diesel prices rose by 5 paise across four major cities in the country. In Delhi, petrol is priced at Rs 73.08, no change in price compared with Sunday's rate. Diesel in the national capital is retailing at Rs 66.66, 5 paise more than Sunday’s price, as per data from Indian Oil Corporation website. To be noted that as it is worth mentioning here is that the retail fuel prices in Delhi are the cheapest among all metros and most state capitals due to lower taxes.
In across metro cities, in Mumbai, citizens have to pay Rs 78.65 for a litre of petrol while diesel costs Rs 69.77 per litre, a 5 paise jump from yesterday’s rate. Similarly, in Chennai, the retail prices of petrol and diesel are Rs 75.85 a litre and Rs 70.39 (5 paise increase) per litre respectively. People in Kolkata have to shell out Rs 75.10 for a litre of petrol while diesel retailed at Rs 68.40 per litre, 5 paise more than Sunday’s price.
It may be noted that the price of petrol and diesel prices in India is dependent on the global crude prices and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements. In October 2018, petrol prices had peaked to a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai. Diesel prices raised up to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai.
On Monday, in the international oil market, crude prices fell amid the US administration demanded that OPEC raise output. International Brent crude oil futures were trading at USD 71.72 per barrel, down 43 cents or 0.6 per cent from their last close.